Ardian has secured 2 billion euros for its third European-focused private debt fund. According to the private investment firm, nearly 40 percent of the fund has already been deployed through nine investments. This includes financing for Charlesbank Capital Partners’ acquisition of Six Degrees Group, a UK data services provider and Cathay Capital’s buyout of Cenexi, a French pharmaceutical company.
London, September 15th, 2015. Ardian, the independent private investment company, today announces that it has raised €2 billion from investors for its third generation private debt investment fund.
With this private debt fund, Ardian will continue to provide flexible and tailor-made financing arrangements to companies across Europe. Ardian is clearly one of Europe’s leading providers of such bespoke financing with the ability to arrange and hold both unitranche and subordinated financings, ranging from €40 million to €300 million, for private equity-backed companies.
Ardian’s third generation private debt fund is significantly larger than the second generation, which raised €1.5 billion in 2008. It has attracted a diverse global investor base, including insurance companies and pensions funds. Notably, half of investors in the fund are new Ardian investors.
The fund is already nearly 40% invested through nine investments. This includes most recently the arrangements of unitranche financing for Charlesbank Capital Partners’ acquisition of Six Degrees Group, a leading London-based provider of data services, and Cathay Capital’s acquisition of Cenexi, a French pharmaceutical company, both of which took place in July.
Vincent Gombault, Member of the Executive Committee and Head of Funds of Funds and Private Debt, said: “Achieving this increase in the size compared to the previous fund is a significant accomplishment. It is a testament to the expertise of our team and our ability to consistently meet the evolving demands of clients and investors alike. As the market matures, private debt will take an increasingly significant role in global finance. We are very well placed to play a big part in this.”
Olivier Berment, Head of Private Debt and Managing Director, added: “Private debt is an important source of finance across Europe, and its prominence will continue to grow. It also represents an increasingly attractive source of returns for investors. We partner with companies for the long term and will continue to work with sponsors and management teams looking to create value through growth rather than simple financial engineering.”
Ardian entered the private debt market in 2005 when it launched its first mezzanine fund. Since 2010, Ardian has on average arranged €500 million of financing per year. During the last 12 months, the Private Debt team has been further expanded, with the hiring of six persons in Paris and London. The 15-strong team has notably strengthened its presence on the UK market with the recruitment of Mark Brenke as Managing Director in London and the appointment of Guillaume Chinardet in Paris, who joined the company in 2007, as Head of Private Debt France.
Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$50bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.
Ardian maintains a truly global network, with more than 380 employees working through eleven offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, Beijing, Singapore, Jersey, Luxembourg. The company offers its 355 investors a diversified choice of funds covering the full range of asset classes through Ardian Funds of Funds (comprising primary, early secondary and secondary activities), Ardian Private Debt, Ardian Direct funds (comprising Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.